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Hong Kong, Shanghai stocks dive on US-China trade war fears

Hong Kong, Shanghai stocks dive on US-China trade war fearsSHANGHAI: Hong Kong and Chinese share markets slumped on Friday as tit-for-tat threats between the United States and China raised fears of a damaging trade war between the world’s two biggest economies.

The Hang Seng Index fell 2.45 percent, or 761.76 points, to end at 30,309.29.

The benchmark Shanghai Composite Index closed 3.39 percent lower, or 110.72 points, at 3,152.76 on turnover of 293.4 billion yuan ($46.4 billion). It lost 3.58 percent over the week.

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, fell 4.49 percent, or 82.99 points, to 1,766.61 on turnover of 341.9 billion yuan. It lost 5.18 percent in the week.

Copyright AFP (Agence France-Press), 2018

Source: Brecorder.com

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